If you are a real estate investor who self-manages your properties, Property Management Errors & Omissions coverage can assist in situations where a tenant alleges that the property manager was negligent or failed to perform duties as promised in the lease.
Coverage includes:
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$1,000,000 limit of liability for exposures on the residence premises due to property management activities not covered by premises liability
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$25,000 sublimit for tenant discrimination (this coverage can apply to Fair Housing Laws)
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Legal defense costs (including attorney fees, settlements, court costs, etc.) within your coverage limit
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Coverage may extend to errors and contract performance disputes
This policy is subject to a $2,000 deductible.